TC Listed Among Key Institutions Featured in the Report and Showcasing its Role as a Vital Economic Engine in Alabama
This month, UNCF (United Negro College Fund), the nation’s largest and most effective minority education organization, proudly unveiled its 2024 HBCU Economic Impact Report. The report, Transforming Futures: The Economic Engine of HBCUs, commissioned by UNCF’s Frederick D. Patterson Research Institute (FDPRI), is a comprehensive, data-driven analysis highlighting the substantial contributions that historically Black colleges and universities (HBCUs) make to their students, local communities and the nation. Talladega College is a UNCF-member institution, and its impact on the nation’s economy is significant.
HBCUs have long been pillars of educational excellence and economic engines, driving prosperity across the nation. Despite these contributions, chronic underfunding threatens their ability to maintain this high level of impact. Transforming Futures: The Economic Engines of HBCUs underscores the urgent need for equitable and sustainable funding to ensure HBCUs can continue their vital role in promoting social mobility and economic growth and calls on the public to advocate for these essential institutions.
Talladega College powers the economy of Alabama, including but not limited to:
“The release of the HBCU Economic Impact Report by UNCF highlights the vital role that Talladega College plays not only in our local communities but also in the broader state of Alabama. With an economic impact of $27.8 million and the generation of nearly 350 jobs, Talladega is a significant economic driver in our region. Furthermore, our graduates experience substantial lifetime benefits from their education here,” said Talladega College Interim President Dr. Walter M. Kimbrough. “This report clearly articulates the critical importance of HBCUs like Talladega College in fostering economic growth and providing opportunities for future generations."
Transforming Futures: The Economic Engines of HBCUs is a continuation of the landmark 2017 study, HBCUs Make America Strong: The Positive Economic Impact of Historically Black Colleges and Universities, which showed that the economic benefits of HBCUs extend beyond the students they educate. In addition to the comprehensive report, a website has been launched where users can explore state-specific data and insights for individual HCBUs. This resource allows users to explore the localized impact of any given HBCU, emphasizing the critical role HBCUs play in communities across the nation.
“As UNCF observes its 80th anniversary, one of the highlights of our yearlong celebration is the release of the sequel to our groundbreaking 2017 report. This report reaffirms what we have always known about the resilience of HBCUs: despite a deadly pandemic, social unrest caused by the murders of George Floyd and Breonna Taylor, and the economic uncertainties of the past seven years, HBCUs continue to do more with less— not only in preparing the next generation of leaders but also in contributing to our nation's economic impact,” said Dr. Michael L. Lomax, president and CEO, UNCF. “At this critical moment, with a crucial election on the horizon, we all must immediately actualize our commitment to these cornerstone institutions.”
In the months to come, UNCF will shift its focus towards voter mobilization efforts, leveraging the findings of the 2024 HBCU Economic Impact Report to raise awareness about the critical role of HBCUs nationwide. UNCF encourages voters to support policies that strengthen HCBUs, and to send letters to elected leaders at the state and federal levels in support of equitable funding and resources for these crucial institutions.
To view the complete Talladega College factsheet, visit https://uncf.org/hbcuimpactreport/2024/alabama/talladega-college
To explore the full report of Transforming Futures: The Economic Engines of HBCUs, visit: https://UNCF.org/HBCUImpactReport
For more information on how to actualize a commitment and be a voice for HBCUs, visit: https://UNCF.org/EquityPledge
